Ocala and Palm Coast Metro Areas Continue to Lead in Largest Over-The-Year Unemployment Rate Drops

OCALA AND PALM COAST METRO AREAS CONTINUE TO LEAD IN LARGEST OVER-THE-YEAR UNEMPLOYMENT RATE DROPS

14 of the state’s 22 Metro Areas experienced a 2.0 percentage point drop or greater since October 2011

TALLAHASSEE—Ocala led all of Florida’s metro areas with the largest over-the-year unemployment rate drop from October 2011 to October 2012, with a 2.8 percentage point decrease, followed by Palm Coast with a 2.5 percentage point decrease and Palm Bay-Melbourne-Titusville ranking third with a 2.4 percentage point drop. Overall, 14 of the state’s 22 metro areas experienced declines in their unemployment rates of 2.0 percentage points or greater during the same time period (not seasonally adjusted).

“Communities throughout Florida are growing jobs and opportunities for Florida families, and while we still have more work to do, Florida’s economy is moving in the right direction,” said Governor Rick Scott.

The Lakeland-Winter Haven, Sebastian-Vero Beach and Tampa-St. Petersburg-Clearwater metro areas were all tied with a 2.3 percentage point drop, followed by the Cape Coral-Ft. Myers, North Port-Bradenton-Sarasota and Orlando-Kissimmee-Sanford metro areas with 2.2 percentage point declines.

Florida Metro Areas

Largest Unemployment Rate Declines

Since October 2011

Metro Area

October 2011

October 2012

Difference

Ocala

11.9

9.1

2.8

Palm Coast

13.8

11.3

2.5

Palm Bay-Melbourne-Titusville

11.1

8.7

2.4

Lakeland-Winter Haven

11.5

9.2

2.3

Sebastian-Vero Beach

12.5

10.2

2.3

Tampa-St. Petersburg-Clearwater

10.5

8.2

2.3

Cape Coral-Ft. Myers

10.7

8.5

2.2

North Port-Bradenton-Sarasota

10.5

8.3

2.2

Orlando-Kissimmee-Sanford

10.1

7.9

2.2

Deltona-Daytona Beach-Ormond Beach

10.4

8.4

2.0

Jacksonville

9.7

7.7

2.0

Panama City-Lynn Haven-Panama City Beach

9.8

7.8

2.0

Port St. Lucie

12.2

10.2

2.0

Punta Gorda

10.5

8.5

2.0

These regions contributed to Florida’s October 2012 unemployment rate declining to 8.5 percent, a 1.7 percentage point drop since October 2011 (seasonally adjusted) and the lowest since December 2008. During that time, Florida has created 80,500 private sector jobs.

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